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FIDES (VIETNAM) Market Statistics 24/7 – 28/7/2023

FIDES (VIETNAM) Market Statistics 24/7 – 28/7/2023

Market Summary
ChangeTrading VolumeTrading ValueForeign net buy/sell
(%)Average daily trading volume (mil.shares)Average daily trading value (mil.USD)Net trading value (mil.USD)
HSX3.36%1,020.39860.3331.95
VN304.47%280.76311.9622.10
HNX3.19%113.977.342.25
Upcom3.04%68.0346.19(49.76)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

Foreign Top buy/sell (HOSE + HNX, mil.USD)

Source: Fiinpro

News

Economy- Society

FDI

  • Hyosung (Korea) plans to invest $1 bn to build a carbon fiber factory in Phu My 2 Industrial Park, Ba Ria-Vung Tau province. The investment in the initial phase is about $160 mn.
  • Hyosung has invested $3.5 bn in Vietnam, including: Dong Nai ($1.9 bn), Ba Ria-Vung Tau ($1.4 bn), Quang Nam ($200 mn), and Bac Ninh ($100 mn).

Company- Sectors

Real estate

  • Gamuda Land has signed a share transfer agreement to acquire Tam Luc Real Estate Corporation, who owns 3.68 ha in Thu Duc City, HCMC for $315.8 mn.
  • Gamuda intends to develop this land into a mixed-use high rise of 1,968 apartments, 12 penthouses, 51 podium shops, and 21 shophouses.

Petroleum

  • Nghi Son Refinery will carry out maintenance for about 55 days from Aug 25 and will not deliver goods (E5 RON 92, RON 95 and DO) in the coming Sep and Oct 2023.

Stock market

  • According to Ms. Vu Thi Chan Phuong (Chairwoman of the SSC), SSC will hold a panel discussion with rating agencies in Hong Kong in Aug 2023 to assess the possibilities for upgrading to an emerging market. Two key issues needing to be improved are: (1) prefunding: target to reduce the prefunding rate from 100% to 10% and (2) foreign ownership limit: SSC proposes to review and only apply to necessary fields such as security and defense, and trade protection.
  • According to the World Bank, about $7.2 bn will flow into Vietnam if the market is upgraded.

New ETF Fund

  • A new Singapore ETF investing in Vietnam, will be listed next month:
    • The Manager is CGS-CIMB Securities (Singapore) Pte. Ltd
    • The Trustee is BNP Paribas (Singapore)
    • To be listed on Singapore Stock Exchange Trading Limited on 25 Aug 2023
    • Benchmark index: iEdge Vietnam 30 Sector Cap index

Insurance Result Business

Mil.$NamePBT Q2/2023yoyPBT 1H2023yoyClaim ratio
PVIPVI Holdings16.0059.4%29.5432.2%41.2%
BICBIDV Insurance Corporation6.93136.8%11.1561.0%24.1%
ABIAgriculture Bank Insurance Joint Stock Corporation4.5096.3%8.2756.6%36.2%
PGIPetrolimex Insurance Corporation5.0932.0%8.005.0%51.7%
BMIBao Minh Insurance Corporation4.0715.3%7.979.0%35.7%
MIGMilitary Insurance Company3.21244.4%6.8650.8%39.3%
PREPVI Reinsurance Joint-stock Corporation1.908.2%3.86-13.2%41.0%
BLIBao Long Insurance Corporation0.83-130.0%2.13-47.3%26.7%
AICVietnam National Aviation Insurance JSC0.16-83.8%0.38-79.1%49.9%

SAB (Saigon Beer – Alcohol – Beverage Corporation)

  • Q2/2023, revenue of $353.7 mn (-7.7% yoy), of which: beer revenue (accounting for 88% total revenue) decreased by 9% yoy due to: (1) weak consumption demand, (2) stricter enforcement of Decree 100 on drink driving and (3) high base effect (Q2/2022: sales volume rose strongly by 19% thanks to the consumption recovery post re-opening). PAT of $49.33 mn (-30.5% yoy) due to: high input prices (malt) and higher advertising & promotion expenses.
  • 1H2023, revenue of $618.13 mn (-11% yoy) and PAT of $90.49 mn (-25.1% yoy). (Source: SAB)

HPG (Hoa Phat Group JSC)

  • Q2/2023, revenue of $1.26 bn (-21.2% yoy, +11% qoq) and PAT of $62.13 mn (-63.8% yoy, +267.3% qoq). In Q2/2023, construction steel volume reached 784,000 tons (-24% yoy, -10% qoq) while steel pipe and steel sheet volume increased by 5% and 43% yoy, respectively.
  • 1H2023, revenue of $2.39 bn (-31.2% yoy) and PAT of $79.04 mn (-84.8% yoy). (Source: HPG)

HSG (Hoa Sen Group)

  • Q3/2023, revenue of $367.91 mn (-29% yoy, +24% qoq) and PAT of $0.6 mn (-29% yoy, -94% qoq)
  • 9M2023, revenue of $1 bn (-43.6% yoy) and PAT loss of $17.45 mn (vs $48.4 mn in 9M2022). (Source: HSG)

VHM (Vinhomes JSC)

  • Q2/2023, revenue of $1.4 bn (+634.4% yoy) and PAT of $410.74 mn (+14.4x yoy).
  • 1H2023, revenue of $2.64 bn (+364.4% yoy) and PAT of $917.9 mn (+314.3% yoy). (Source: VHM)

VRE (Vincom Retail JSC)

  • Q2/2023, revenue of $92.46 mn (+17.5% yoy) and PAT of $42.58 mn (+29.4% yoy).
  • 1H2023, revenue of $175.15 mn (+27.9% yoy) and PAT of $86.15 mn (+76% yoy).
  • The result remains stable due to the slight recovery of the consumer market and no more financial support packages for tenants. Moreover, VRE recorded $8.4 mn (+22.6% yoy) from handing over shophouses. (Source: VRE)

MWG (Mobile World Investment Corporation)

  • In Jun 2023, revenue of $398.31 mn (-17.9% yoy, -8.4% mom). The decrease in mom resulted from a 13% plunge in sales of TGDD and DMX because the high season for air conditioners is over. In contrast, Bach Hoa Xanh showed robust performance, with total revenue increasing by 9% yoy and 3% mom, attributed to the improvement in customer traffic.
  • 1H2023, revenue of $2.39 bn (-20% yoy, completing 42% year target). (Source: MWG)

DGW (DIGIWORLD CORP.)

  • Q2/2023, revenue of $195.57 mn (-6.4% yoy) due to weak mobiles (-19% yoy) and office equipment (-17% yoy) revenue while laptops revenue increased by (+19% yoy). PAT of $3.53 mn (-39.4% yoy) due to high advertising, promotion, and sales support expenses.
  • 1H2023, revenue of $364.1 mn (-28.2% yoy) and PAT of $6.91 mn (-53.3% yoy). (Source: DGW)

GVR (Vietnam Rubber Group – JSC)

  • Q2/2023, revenue of $181.8 mn (-23.1% yoy), of which: rubber revenue (accounting for 75% total revenue) and wood revenue (accounting for 13% total revenue) decreased by 12% yoy and 54% yoy, respectively. PAT of $23.59 mn (-48.1% yoy) due to decline in ASP and lower income from affiliates ($0.36 mn in Q2/2023 vs $3.16 mn in Q2/2022)
  • 1H2023, revenue of $357.8 mn (-19.6% yoy) and PAT of $47 mn (-46.7% yoy). (Source: GVR)

DGC (Duc Giang Chemicals Group JSC)

  • Q2/2023, revenue of $102.7 mn (-39.4% yoy) and PAT of $37.4 mn (-53.5% yoy) due to the decrease in sales volume of (1) Yellow phosphorus (-44% yoy), (2) fertilizers of all kinds (-2.26% yoy).
  • 1H2023, revenue of $207.5 mn (-35.9% yoy) and PAT of $72.2 mn (-50% yoy).
  • DGC has completely acquired Phosphorus 6 JSC for $27 mn. (Source: DGC)

DCM (Petro Viet Nam Ca Mau Fertilizer JSC)

  • Q2/2023, revenue of $140 mn (-19.4% yoy), of which: (1) urea revenue (accounting for 60% total revenue) decreased by 30% yoy driven by lower ASP (-40% yoy) and (2) NPK revenue (accounting for 19% total revenue) increased by 66% yoy due to a doubling in sales volume. PAT of $12.28 mn (-71.7% yoy) due to: (1) fertilizer price decrease by 30-40% yoy, (2) FO price maintained at a high level.
  • 1H2023, revenue of $256.41 mn (-26.1% yoy) and PAT of $22.01 mn (-79.6% yoy). (Source: DCM)

HT1 (Vicem Ha Tien Cement JSC)

  • Q2/2023, revenue of $85.05 mn (-16.2% yoy) due to decrease in sale volume (1.5 mn tons, -17% yoy). PAT of $2.5 mn (-56.8% yoy) due to: (1) surging input coal prices amid weak demand and (2) higher interest expenses (short term debt increased by 16% ytd).
  • 1H2023, revenue of $157 mn (-15% yoy) and PAT loss of $1.15 mn (vs $7.12 mn in 1H2022). Total sales volume reached 2.7 mn tons (-18% yoy). (Source: HT1)

GEX (GELEX Group JSC)

  • Q2/2023, revenue of $338.8 mn (-11.7% yoy), in which GEX has recorded revenue from Yen Phong II, Yen My, Dong Mai IP… with total of 77ha. For energy segment, wind power projects were affected by the low wind cycle in Q2/2023 and hydropower continued to be affected by El Nino. PBT of $36.9 mn (+49% yoy), reason: (1) financial expenses decreased by 60% yoy due to: $4.14 mn reversal of provision for impairment of trading securities & investment loss in Q2/2023 (Q2/2022 appropriation of provision: $3.84 mn); (2) higher FX loss.
  • 1H2023 revenue of $610.4 mn (-18.7% yoy) and PBT of $43 mn (-31.7% yoy). (Source: GEX)

QNS (Quang Ngai Sugar Joint Stock Company)

  • Q2/2023, revenue of $134.14 mn (+43.3% yoy) driven by a surge in sugar revenue (+246% yoy, accounting for 47% total revenue) while soymilk revenue (accounting for 37% total revenue) decreased by 7% yoy. PAT of $30.3 mn (+94.9% yoy) due to sugar’s strong gross profit margin expansion due to elevated volume and sugar prices.
  • 1H2023, revenue of $224.76 mn (+31.6% yoy) and PAT of $43.77 mn (+90% yoy). (Source: QNS)

DBC (Dabaco Group)

  • Q2/2023, revenue of $147.79 mn (+17.1% yoy) and PAT of $13.91 mn (+22.9x yoy) due to: (1) An increase in pork prices and (2) DBC will book $ 32 mn revenue from Park View City project (Q2/2022: $4.61 mn).
  • 1H2023, revenue of $246.25 mn (+0.3% yoy) and PAT of $0.26 mn (-73.4% yoy). (Source: DBC)

VJC (Vietjet Aviation JSC)

  • BOD approved the plan to issue $85.11 mn worth of straight bonds (non-convertible, unwarranted, unsecured) to fund its working capital, the tenor of 5 years, and a fixed interest rate of 12%/year for the first 2 interest periods. (Source: VJC)

ACB (Asia Commercial Joint Stock Bank)

  • BOD approved the plan to issue $851 mn worth of straight bond via private placement, fixed interest rate for the entire tenor of 5 years. (Source: ACB)

VIB (Vietnam International Commercial Joint Stock Bank)

  • Ms. Nguyen Thi Bich Hanh (non-executive BOD member) registered to buy 25 mn VIB shares (0.99% OS) via order matching/put through from 25 Jul to 23 Aug 2023. She currently holds no share of VIB. (Source: HSX)

MSB (Vietnam Maritime Commercial Join Stock Bank)

  • Mr. Pham Le Viet Anh (related to BOD) registered to sell 2.14 mn MSB shares via order matching/put through from 1 Aug to 30 Aug 2023, decreasing his ownership from 0.206% to 0.1% (2 mn shares) (Source: HSX)

SHS (Saigon – Hanoi Securities JSC)

  • Mr. Nguyen Chi Thanh (Deputy CEO) registered to sell all 1.1 mn SHS shares (0.14% OS) via order matching/put through from 27 Jul to 25 Aug 2023. (Source: HNX)

NVL (No Va Land Investment Group Corporation)

  • Diamond Properties JSC (related to the Chairman) sold 0 shares out of 13.6 mn shares registered from 22 Jun to 21 Jul 2023. Post transactions, it holds 192 mn NVL shares (9.85% OS). (Source: HSX)

VNZ (VNG CORPORATION)

  • VNG Limited (related to Deputy CEO) registered to sell 3.48 mn VNZ shares via put through from 25 Jul to 15 Aug 2023, decreasing their ownership from 61.12% to 49% (14,080,640 shares) and VNZ will become associate company of VNG Limited. (Source: HNX)

BCG (Bamboo Capital Group JSC)

  • Helios Service and Investment JSC sold 7.5 mn BCG shares on 20 Jul 2023, decreasing their ownership from 5.93% to 4.52% (24,131,317 shares).
  • Mr. Pham Minh Tuan (Chairman) registered to sell 4 mn BCG shares via order matching/put through from 26 Jul to 24 Aug 2023, decreasing his ownership from 1.9% to 1.15% (6,121,497 shares). (Source: HSX)

HAH (Hai An Transport & Stevedoring JSC)

  • Maritime Supply & Technology Service JSC (related to a BoD member) registered to sell 1.3 mn HAH shares via order matching or put through from 28 Jul to 26 Aug 2023, decreasing their ownership from 3.27% to 1.42% (1 mn shares). (Source: HSX)

Dividend Schedule

TickerNameDividendRatioEx-datePayment date
VNMViet Nam Dairy Products Joint Stock CompanyCash9.5%3-Aug-2318-Aug-23
GASPetroVietnam Gas Joint Stock CorporationCash36%2-Aug-235-Oct-23
BSRBinh Son Refining and Petrochemical Company LimitedCash7%22-Aug-2327-Sep-23
DCMPetro Viet Nam Ca Mau Fertilizer JSCCash30%29-Aug-2311-Sep-23
FPTFPT CorporationCash10%24-Aug-2312-Sep-23
SCSSCSC Cargo Service CorporationCash35%2-Aug-2318-Aug-23
HAHHai An Transport & Stevedoring JSCStock50%7-Aug-23